Spain has plunged into a second recession amid government measures to rein in the country's debt. Ratings agency Standard and Poors has downgraded nine of Spain's banks, many of which are bogged down in bad loans. It also comes as Spain's unemployment rate has soared to almost 25 per cent, the highest in Europe. And sweeping cuts to health care and education have seen thousands taking to the streets, angered at the government austerity measures. RT gets some analysis on the situation in the country from Professor of economics Philipp Bagus, author of the book "The tragedy of the euro".
Comments
What is human currency looking like these days?
Thank you for your post.
It Spain in this case, is showing us that the old victim oprsr model even with a so called moral consciousness is not working. NOTHING WE KNOW FROM T HE PAST WORKS. She is coming in and things are going to be different frm now on. Yeh Lah
PEACE